The reform of the public sector of telecommunications and airlines, as well as the privatization of existing enterprises in these fields is an important task facing the State Property Committee (SPC). This is stated in the editorial Mulkiyyet (Ownership) of SPC on the anniversary of Heydar Aliyev’s birth.
In the coming years, the pace of privatization of large enterprises will be accelerated. Also planned is restructuring, de-monopolization and recovery of large state companies mentioned in this article.
Since the beginning of the denationalization of state property in Azerbaijan (1996) about 50,000 enterprises and objects have been privatized. Also on the basis of privatized medium and large enterprises, 1,600 joint-stock companies were created. Around 100 companies were privatized by investment contests, which was invested $ 550 million.
The privatization of state property contributed 600 million AZN to the state budget. -----08D
Economics
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Azerbaijan's foreign direct investment (FDI) portfolio for the first half of the year continued to be dominated by the oil and gas sector, which attracted 80.4% of the total FDI inflow of $3 billion, according to the Central Bank of Azerbaijan. This reflects a persistent trend of reliance on energy resources, as the country plays a critical role as a key energy producer in the region.
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A Baku seminar titled "Green Building Initiative in Azerbaijan," held on September 12, spotlighted the country’s increasing focus on sustainable construction. Organized by the State Committee for Urban Planning and Architecture, in collaboration with the International Finance Corporation (IFC), the event brought together key stakeholders from both the public and private sectors, reflecting a growing national commitment to environmentally conscious building practices.
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The Central Bank of Azerbaijan (CBA) today held a briefing on the financial results for the first half of 2024, shedding light on the country’s economic health and key indicators influencing its external balance. Samir Nasirov, Director of the CBA Statistics Department, outlined the current account surplus, foreign investments, and other critical metrics during the event.
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On September 11, 2024, Azerbaijan's Economic Council, chaired by Prime Minister Ali Asadov, convened to review the draft state and consolidated budgets for 2025-2028. The meeting, dedicated to key financial and economic issues, addressed global economic trends, macroeconomic forecasts for 2024-2028, and the country’s budget policy for the coming years.
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